Cuatrecasas advises on €2.5 million seed investment for Nortech AI

Cuatrecasas provided legal advice to Indico Capital Partners, based in Lisbon, and Earlybird – X Seed Fund GmbH & Co. KG, a German venture capital fund, in a seed capital investment round that raised €2.5 million for Nortech AI, a startup Norwegian, which uses innovative technology using IoT (“internet of things”) to combat the waste of resources in the maritime industry.

The Cuatrecasas team that provided legal advice to the investment operation was coordinated by the partner in the corporate and M&A area Vasco Bivar de Azevedo, specialised in venture capital, and included the associate in the same area Tomás Roxo.

“This was an important operation, demonstrating the ability that the national ecosystem alone has to attract foreign startups”, highlights Vasco Bivar de Azevedo.

Nortech AI has a unique platform that is designed to help not only the maritime industry but also other heavy industries shift to data-driven decision-making, improving the ability to reduce greenhouse gas emissions and promoting sustainability.

Michael Heron